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Web Extra: Burned By eBay

A long position in eBay looked like a hot trade but all it did was burn. So how does Joe Terranova recommend playing it now?

The Liquidator made the fateful call on November 24th hoping that eBay would benefit as more shoppers chose to shop online.

”You have to look at e-commerce and say to yourself the dynamic surrounding the entire retail space has changed,” he said at the time. “Obviously that bodes well for Amazon but I think it bodes well for Ebay too.”

Unfortunately, this story doesn’t have a happy ending. Despite the popularity of online shopping broadly, eBay shares are down about 5% since Terranova said to get long.

What does he have to say about this stock now? Find out in this web extra. Watch the video now!



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Trader disclosure: On December 20, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BAC), (FXI); Terranova owns (CRM), (VRTS), (C), (UPL), (PEP), (GS), (OXY), (NKE); Terranova owns Gold puts; Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Adami's wife works at (MRK); Pete Najarian owns (BBY) calls; Pete Najarian owns (C); Pete Najarian owns (GE); Pete Najarian owns (MS); Pete Najarian owns (PFE); Pete Najarian owns (V) call spreads; Pete Najarian owns (YHOO)

For Joe Terranova
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JOE TERRANOVA FAST FIRE SOT
Terranova did not own eBay on 11/24/2010